A couple of weeks ago, I posted about how I was finding it so easy to find creative real estate deals online. I got busy and never followed up on that, and wanted to fill you in on what’s happened since.
At that time, I used the famous classified ad website Craig’s List to find some properties that were for rent in my target area. I then contacted 3 different home owners via email and simply told them I was interested in their properties, but that I would prefer to buy their homes using creative means rather than rent the property.
All three of them agreed that they’d consider such a scenario. That’s really a pretty big deal, because in normal times, there’s much greater resistance to such suggestions.
I went and looked at all three properties and spoke at length with each owner. Each one of them was willing to sell the property via multi-year lease-purchase (at the very least) and one of them even offered $5,000 for down payment assistance.
What’s fascinating about this is that these properties were priced at or slightly below market value, with no “premium” priced in on the basis of the transaction being a lease-purchase.
In the final analysis, I chose not to pursue any of those properties. So I sought some new target properties using a method that’s never worked for me before: I asked a real estate agent to give me a listing of all of the properties listed as lease-purchase candidates in my target area.
I was ASTOUNDED at both the number and quality of the results. There is so much available inventory right now that not only were there many lease-purchase deals to choose from, but many of them were actually BRAND NEW HOMES that were unsold by developers.
My friend, the opportunity available right now is astounding. Each and every seller I’ve spoken with has mentioned their keen awareness of the weakness of the market, and this truly presents huge opportunities for you and me.
If you’re a serious investor, I hope you’ll take the time during the coming weeks to go out and find yourself some good investment property. Even if your credit is weak, the availability of high-quality properties using creative acquisition strategies is simply amazing.
If you’ve been busy acquiring property or at least searching for it, please let us know what you’re doing in the comments area below.
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